Mike Crapo actually said...

"The status quo means little, if any, reduction in the $5 trillion of outstanding mortgage debt to which the taxpayer is currently exposed."

"The issue of how we transition into a future system is one of the most important topics we will cover in this series of housing finance reform hearings."

"We must learn from these mistakes."

"We cannot afford to return to the days of weak regulatory oversight of the secondary mortgage market."